|
Press Release |
|||
|
Control-F1 Secures Series B FinancingSecond Round of Financing Oversubscribed by 50%Calgary, Alberta - September 11, 2001 - Control-F1, the eSupport company, today announced they have secured a second round of financing. The lead investors include SpringBank TechVentures, Palisade Capital Management LLC, Launchworks Inc., and FMC.com. Control-F1 also received financing from private investors.Control-F1 is an eSupport software company that empowers helpdesks with the ability to deliver live technical support via the Internet. An extensive set of secure web-based Communication, Diagnostic, System Management and Desktop Sharing Tools equip support agents to solve problems faster and more effectively. “Our ability to raise this capital in the current economic climate reflects a business model that is viable, and that offers significant and measurable value to organizations,” said Veer Gidwaney, CEO and co-founder. “That we oversubscribed by 50% is a testament to the strength of the company.” “A compelling vision, innovative technology, and solid management are the ingredients for success,” said Andrew Kyle, Partner, SpringBank TechVentures. “Control-F1 has the leadership required to achieve their vision. We are deeply committed to helping them revolutionize customer support.” Since releasing its product in September of 2000, Control-F1 has deployed mission critical eSupport environments for distinct clients, including Novell, Jamcracker, and Everdream. These relationships attest to the fact that Control-F1 has developed a solution that delivers a return on investment that companies see as vital to their business operations. The funding will be used primarily to expand Control-F1's global sales force and to extend product development capabilities. “The technological advantage Control-F1 has - allowing organizations to deliver state-of-the-art service and support over the Web - makes this an exciting opportunity," said Eric Bertrand, Vice President of Palisade Capital Management. “Control-F1 is well en route to becoming the pre-eminent developer of web-based eSupport solutions.” “Control-F1 has a powerful vision,” said Launchworks’ President, Stephen Kenny. “It is the driving force behind Control-F1’s growth and achievements to date.” “Control-F1 has all of the key elements we, as investors, are looking for in today's market; vision, drive, enthusiasm and innovative solutions,” said Frederick Chan, Managing Director of FMC.com. “We are looking forward to being involved with Control-F1 and working with them to become the market leader in eSupport.” About Control-F1 Control-F1 (www.control-f1.com) is an eSupport software company that empowers helpdesks with the ability to deliver live technical support via the Internet. An extensive set of secure web-based Communication, Diagnostic, System Management and Desktop Sharing Tools equip support agents to solve problems faster and more effectively. The need to provide exceptional technical support has become a critical requirement in building customer relationships. Control-F1 helps enhance customer satisfaction and brand reputation, while decreasing the cost of support and increasing overall profitability. About SpringBank TechVentures SpringBank TechVentures (www.sbtechventures.com) concentrates on venture and private equity investments in the early-stage financing rounds of companies involved in developing the enabling technologies, infrastructure and services to support the explosive growth sectors of wireless, Internet and telecommunications. About Palisade Capital Management Palisade Capital Management, LLC (www.palisadecapital.com) is a Registered Investment Advisor based in Fort Lee, NJ. Established in 1995, Palisade provides specialized services to private limited partnerships, equity and convertible portfolios, and high net worth individuals. About Launchworks With offices in Toronto, Calgary and Vancouver, Launchworks is Canada's source of launch capital for rapidly growing software and technology firms. Provided primarily through the Launchworks Group, launch capital gives partners access to an extensive network of financial, intellectual, and resource capital necessary for the success of emerging companies. About FMC.com FMC.COM Investment Holdings Limited is a private, Hong Kong based company with direct investments in different I.T. and Technology Companies located in the Greater China Region as well as the Silicon Valley, USA. Control-F1 is our first investment in a Canadian software company. Editorial Contact: Deanna Blake Control-F1 403.270.2410 deannab@control-f1.com top of page |
|||